Sign up | Log in



Home  >>   Daily News  >>   Philippines  News  >>   Economy  >>   February inflation tops Philippine forecast
NEWS UPDATES Asean Affairs        5  March 2011

February inflation tops Philippine forecast

Related Stories

March  4, 2011
Philippines to reduce domestic borrowing

February  24, 2011
World Bank forecasts slower Philippines growth

February 21, 2011
Philippine central bank calls for higher growth

February  15, 2011
Brighter growth outlook, higher inflation for Philippines

February  14, 2011
Philippine budget deficit swells in December

February 12, 2011
Philippines economic index rises

February inflation shot up to a 10-month high and surpassed the Philippine central bank’s forecast for the month mostly because of costlier food and services.

The National Statistics Office (NSO) on Friday said consumer prices rose an average of 4.3 percent last month, higher than the 3.6 percent in January and the 4.2 percent in February last year.

Excluding selected food and energy items, core inflation picked up to 3.5 percent in February from 3.3 percent in January.

“The series of price hikes in gasoline and diesel nationwide, higher electricity and water rates and increased land transport fares in many regions including NCR [National Capital Region] also contributed to the uptrend,” NSO said.

Prices of food alone picked up by an average of 4.3 percent in February from 3.1 percent in January, with fruit and vegetable prices rising an average of 12.2 percent last month from 3.1 percent previously.

Last month’s headline inflation also went past the Bangko Sentral ng Pilipinas’ (BSP) forecast range of 3 percent to 4.1 percent for February, with the year-to-date average of 3.9 near the midpoint of the central bank’s target range of 3 to 5 percent.

“This supports our view that the scope for keeping rates steady has narrowed. We will incorporate this new information in our forecast runs to see how much it moves the inflation path by, and determine if the new expected path would lead to average inflation forecast that would risk breaching the target for the policy horizon,” BSP Governor Amando Tetangco Jr. told reporters in a text message.

“It is important to remember that the BSP looks at expected price movements over a longer policy horizon, and not simply on contemporaneous inflation,” he added.

In a research note, Barclays Capital revised upwards for a second time its 2011 average inflation forecast to 4.8 percent from the earlier estimate of 4 percent and the original 3.6 percent.

“Going forward the risks are biased for further increases in domestic fuel prices as long as uncertainties in the Middle East remain. The contribution from utilities and housing also rose,” Barclays said.

Reach Southeast Asia!
10- Nations, 560- Million Consumers
And $1 -Trillion Market
We are the Voice of Southeast Asia Media Kit
The only Media Dedicated to Southeast Asia Advertising Rates for Magazine
  Online Ad Rates

Comment on this Article. Send them to

Letters that do not contain full contact information cannot be published.
Letters become the property of AseanAffairs and may be republished in any format.
They typically run 150 words or less and may be edited
submit your comment in the box below




1.  Verifier

1. Verifier

For security purposes, we ask that you enter the security code that is shown in the graphic. Please enter the code exactly as it is shown in the graphic.
Your Code
Enter Code

Today's  Stories    5  March 2011 Subsribe Now !
• South Sulawesi outlaws Ahmadiyah
Subcribe: Asean Affairs Global Magazine
• Higher foreign stake in Malaysian banks Asean Affairs Premium
• China confronts Philippines South China Sea

• February inflation tops Philippine forecast

Research Reports
on Thailand 2007-2008

•Textiles and Garments Industry

•Coffee industry

•Leather and footwear industry

•Shrimp industry

• Algorithmic trading arrives in Thailand

• Lakeside eviction looms

• Cambodia, Laos, Vietnam discuss joint website

• Improving HCM City requires funding

Asean Analysis    6   March 2011 Advertise Your Brand
• WEEKLY SUMMARY Sponsor Our Events
Asean Stock Watch    4  March 2011
• ASEAN to Rally
Global News Impacting Asia    17 November 2010
• Bank of America sees Asian inflation
• Lloyd’s increases insurance push in Malaysia
• Wells Fargo analyst on euro
• Obama’s visit to Asia

ASEAN NEWS UPDATES      Updated: 04 January 2011

• Women Shariah scholars see gender gap closing
• Bank Indonesia may hold key rate as inflation hits 7 percent

• Bursa Malaysia to revamp business rules
• Private property prices hit new high in Singapore
• Bangkok moves on mass transport
• Thai retailers are upbeat
• Rice exports likely to decline
• Vietnamese PM projects 10-year socioeconomic plan


This year in Thailand-what next?

04 January 2011
By David Swartzentruber      

It is commonplace in journalism to write two types of articles at the transition point between the year that has passed and the New Year. As this writer qualifies as an “old hand” in observing Thailand with a track record dating back 14 years, it is time take a shot at what may unfold in Thailand in 2011.

The first issue that can’t be answered is the health of Thailand’s beloved King Bhumibol, who is now 83 years old. He is the world's longest reigning monarch, but elaborate birthday celebrations in December failed to mask concern over his health. More

Home | About Us | Contact Us | Special Feature | Features | News | Magazine | Events | TV | Press Release | Advertise With us

| Terms of Use | Site Map | Privacy Policy  | DISCLAIMER |

Version 5.0
Copyright © 2006-2021 TIME INTERNATIONAL MANAGEMENT ENTERPRISES CO., LTD. All rights reserved.
Bangkok, Thailand